Real estate basics: What is a Completion Certificate?
A completion certificate is an important document that states a property has been built, according to standards and proves the legitimacy of a real estate project. We explain its importance, for developers and buyers
A completion certificate is a document that is awarded, after the inspection of a real estate project, stating that it has been constructed according to the approved building plan and that it meets all the necessary standards set by the local development authority or municipal corporation. This certificate needs to be obtained by developers, as well as owners of standalone properties. It is required, to ensure the supply of utilities like water, electricity and drainage system.
Importance of a completion certificate for developers
A completion certificate contains all the details about the building, including the location, identification of the land, details about the developer/owner, the height of the building and the quality of materials used. It also states whether the project has been built according to the building plans and in accordance with the rules and regulations set by the local municipal authority, including the distance from the road, distance maintained between neighbouring buildings and so on. In many states, a completion certificate is necessary, for the developer to obtain water and electricity connections to the property.
In essence, a completion certificate assures the concerned authorities that a property satisfies all the requirements set by them and adheres to the building plan that was authorised, before the construction began. It also assures home buyers that the property is safe to live in and will have a regular supply of water and electricity.
It is also possible for a developer to obtain a provisional completion certificate, if they need to hand over the building/apartment to the home buyer when there is some work yet to be done. However, this certificate is valid only for six months, after which the developer needs to apply for the final certificate, once the construction is complete.
Importance of a completion certificate for home buyers
It is not advisable to take possession of a new property that does not have a final completion certificate. Without a valid certificate, a project or a building is deemed to be illegal and can, therefore, invite penalties or even eviction from the property. In cases where the developer has not obtained the completion certificate yet, a buyer can approach the local municipal authorities individually, or form a residents’ welfare association (RWA), to ensure that the process is completed before they take possession of their properties.
Further, We are also professional real estate consultant having experience of more than decade & half and can assist in entire process related to PROPERTY IN INDIA and can be a complete one stop solution of above discussed various procedures and even assist in getting following services with our collaboration with very experienced legal advisers to conclude any such transaction smoothly.
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it requires extensive research and experience to choose best available option at the given time as opportunity always keep changing. in this case, we can assist prospective buyer in 2 ways:
Option 1) Pure consultancy on fixed fee basis: in this way, we will assist buyer to find best project and property as per his preferences & budget as buyer may already reached to builder & negotiating so we can not be paid by builder so in this case fixed fee will be charged to buyer in advance before giving the consultancy then buyer can directly approach to builder to finalize the property.
Option 2) We involved as a Brokering company: in this way, prospective buyer will visit through us to each project and we will be registered reprsentative with builder for buyer so in this case, buyer has to pay nothing for our same consultancy services which we were giving in above option 1, even we will refund fee which we receive from buyer for option 1.
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hope able to explain our point of view, still any query, please contact anytime on given contact number for detailed Discussion, cell no./whatsapp # +91-9822052388 / +91-7498829332, Email: deepaksundrani@thegururalty.com.
There are many Advantages & Benefits to hire professional consultant which can be experienced only after hiring right person.
Rest assuring here that we work very ethically, honestly and professionally and for us, our client interest is utmost and foremost then anything else. We have already successfully assisted many NRI’s, EXPATS INVESTORS & LOCALITIES to purchase property in both Mumbai & Pune cities as per their requirements & preferences and most of them are with us to manage their properties through us only so one can judge the level of trust & integrity we have in our work & services.
wishing everyone good health and happyness.
Warm Regards,
Deepak Sundrani
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